Tana Resources Corp. Completes Debt Settlement with Share Issuance

October 30, 2026 — Leads & Copy — Tana Resources Corp. has finalized a debt settlement, issuing nearly 10 million common shares to extinguish more than $493,000 in outstanding debt. The settlement involved the issuance of 9,873,763 common shares at a price of $0.05 per share to specific creditors, fully satisfying the previously announced debt obligation.

All shares issued under this settlement are subject to a statutory four-month-and-one-day hold period, as per Canadian securities laws. This transaction also saw participation from certain insiders, including directors and officers, who settled an aggregate of $187,870.10 of their outstanding indebtedness. In exchange, these insiders received 3,757,402 common shares.

Following the completion of this debt settlement, Tana Resources Corp. now has 28,723,763 common shares issued and outstanding. The company confirmed that no new control person was created as a result of this transaction.

The participation of insiders in the debt settlement was classified as a “related party transaction” under Multilateral Instrument 61-101, which governs the protection of minority security holders in special transactions. Tana Resources Corp. utilized exemptions from formal valuation and minority shareholder approval requirements. These exemptions were available because the company's securities are not listed on a specified market under MI 61-101, and the fair market value of the securities issued to or the consideration received from the insiders did not exceed 25% of the company's market capitalization at the time the transaction was agreed upon.

The company stated that it did not file a material change report more than 21 days before the settlement's closing. This was due to the details of the insiders' participation not being finalized until shortly before the announcement, and the company's desire to complete the settlement expeditiously.

Tana Resources Corp. is a Canadian mineral exploration company focused on acquiring and developing high-value mining projects. Its current holdings include the Thackeray project, a 4,385-hectare gold and base metal property situated in the Abitibi Greenstone Belt, approximately 21 kilometers north of Kirkland Lake, Ontario. The company aims to enhance shareholder value by exploring projects with significant technical merit, leveraging the extensive experience of its management team in exploration, finance, and public company management.

Source: Tana Resources Corp.